KUALA LUMPUR, Sept 19 — UEM Sunrise Bhd has completed its issuances of Islamic Medium Term Notes (New IMTNs) totalling RM295 million in nominal value under its IMTN programme.

The New IMTNs, with tenures of three and five years, mature on Sept 19, 2025, and Sept 17, 2027, respectively.

In a filing with Bursa Malaysia today, the property developer said proceeds from the New IMTNs will be utilised for the group and its subsidiaries’ Shariah-compliant general corporate purposes, including acquisitions of land and companies as well as investments.

It will also set aside the proceeds for project development and infrastructure costs, capital expenditure, general expenditure and refinancing of Islamic financing/outstanding loan facilities.

UEM’s IMTN and Islamic commercial papers programmes have a combined aggregate limit of up to RM4 billion in nominal value based on the Shariah principle of Murabahah. — Bernama